People will say all kinds of things about what Bitcoin is: digital gold, the successor to the dollar as a reserve currency, the future of money, whatever. The thing about Bitcoin, though, is that it’s volatile — and thus, risky. And right now, the market is feeling risk-averse. Bitcoin’s price in dollars has fallen by more than a third since January 1st.
A drop this dramatic doesn’t have just one cause, though it probably didn’t help that we’ve been exiting zero interest rate policy (ZIRP). For a while, the US central bank had set interest rates quite close to zero in order to stimulate the economy. In that environment, it doesn’t make sense to keep money in your savings account — your savings won’t earn enough interest to keep up with...
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Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.